Price, speed, quality, pick any 2. Huh?
I learned this adage from some friends of mine who work in the military and it applies to more areas of marketing than people are usually willing to admit. You see price, speed and quality can not exist within the same project, each of them can be excluded by the other two. You want that new marketing campaign to be high quality and lost cost? Well that will take a while to deliver. Oh, you need it in two weeks, then either cost or quality need to be adjusted. Ok, you’re on a specific budget, then quality must be adjusted.
So with that in mind what two should you advise your clients to choose? It depends, but here is something to consider next time to help you choose the best option.
Most sole entrepreneurs and business owners tend to allow cost to be the driving factor and that not necessarily a bad thing. You see cost is a great equalizer. Cost is what prevents me from being the first commercial passenger in space travel, but not from ordering chocolate from my favorite Italian chocolatier, Amedei. As marketers and advertisers we are concerned, and rightly so, with quality or effectiveness. Quality and effectiveness are the measure by which our marketing campaigns, brochures or videos are evaluated. How did it look, how did it perform, what was the conversion rate? But cost and quality aren’t exclusive, but they make speed pretty much unattainable.
What if I told you that most of the time, your clients could have their cake and eat it too. They could receive effective high quality marketing campaigns/pieces and at a low price. This all hinges on 1 essential ingredient, planning. Planning is the reason why either a budget or a level of quality/effectiveness can’t be achieved. I have been contacted numerous times by potential clients asking for a video for a campaign and they need it ready to release asap and they only have x to spend (usually a low, but respectable budget). Now I do what I can to work with them, but most of the time, they find someone who can do it for really cheap and in 1 week.
Now it is confession time, I usually circle back to the clients website or check in via email to learn that 1 of 2 things happened. 1- the end result looks REALLY bad and/or isn’t effective (i.e. a waste of the limited budget they had to begin with) or 2 they never got the video finished (i.e. Failure), either they never started the project or the provider didn’t deliver a final piece.
Now if you find that is the case, don’t use that opportunity to say I told you so.
Instead, explain to them that next time they have a marketing need please contact me earlier than you think necessary (2-3 months before you want the project to go live) because I can deliver much higher quality than what you received at a lower cost when time isn’t as much of a factor. Why 2-3 months? Well most of the time I have found that their estimates of when they need to project to go live is way too late to be effective, so the 2-3 months earlier translates to 1-2 months to complete the project before the actual launch date and gives you as the marketer enough time (depending on the project) to deliver a high quality, cost effective piece that will blow your client’s mind. Are there cases when they have unrealistic goals? Yes, but educating your clients can often prevent or alleviate this.
So I leave you with this, never assume that your client has to choose which of the 3 ingredients to let fall by the wayside. The great equalizer isn’t cost, because with the right amount of planning any challenge can be met, assessed and conquered.
If you have any questions about your upcoming video production project, budgeting, choosing talent, etc please feel free to contact us. We are a Denver based video production company started in 2010 and have worked on all sorts of projects and would be happy to guide you through the video production process.